Fuel3D secures $4 million funding ahead of commercial launch

Fuel3D, developer of advanced 3D scanning systems and solutions, has announced that it has secured funding around a total of £4 million paving the way for the commercial launch of the its consumer scanner product in 2015.

Led by Chimera Partners, the funding round will be used to accelerate Fuel3D’s production, customer support, international retail distribution and expand the scope of the company’s technology to address commercial opportunities in a range of vertical markets including biometrics and eyewear.

“The initial interest shown by investors in Fuel3D has only been increased since the first funding round and we are very pleased to have been oversubscribed in this round of fundraising,” said Ben Gill of Chimera Partners and Chairman of Fuel3D. “The company continues to impress with its commitment to product development goals and has also made very significant inroads into developing new commercial applications and relationships.”

Back in 2013 Fuel3D raised over $300,000 for the development of an affordable, high resolution handheld 3D scanner through a successful Kickstarter campaign.

Expected in 2015, the Fuel3D scanner is currently in beta-testing with the company’s Kickstarter backers. It is the world’s first 3D scanner to combine pre-calibrated stereo cameras with photometric imaging to capture and process a 3D model in seconds.

“This funding round will take Fuel3D through the full commercial launch of our scanner next year, and will allow us to invest in new talent and infrastructure, including growing our operations in the United States,” said Stuart Mead, CEO, Fuel3D. “In tandem with our consumer product development, we will also be using the funding to further develop our intellectual property so that we can capitalize on the ongoing interest we receive from international brands in applying our technology in new verticals beyond 3D printing.”